Saturday, 4 October 2008

The Bow and Arrow Bill to rescue Wall Street and investment bankers from their own folly started its life in the US House of Representatives as H R 3997, a bill To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes.After its ignominious defeat it again came before the House via the Senate as H R 1424, theEmergency Economic Stabilization Act of 2008Title: A bill to provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes.Sponsor: Rep Kennedy, Patrick J. [RI-1] (introduced 3/9/2007) Cosponsors (274)Related Bills:H.RES.1014, H.RES.1525, H.R.493, H.R.1367, S.358Latest Major Action: 10/1/2008 Passed/agreed to in Senate. Status: Passed Senate, pursuant to the order of September 30, 2008, having achieved the required 60 votes in the affirmative, with an amendment and an amendment to the Title by Yea-Nay Vote. 74 - 25. Record Vote Number: 213.House Reports: 110-374 Part 1, 110-374 Part 2, 110-374 Part 3Note:Emergency Economic Stabilization Act of 2008. On 10/1/2008, the Senate passed H.R.1424 as the vehicle for the economic rescue legislation. In the EAS version of the bill (Engrossed Amendment as Agreed to by the Senate), Division A (pp.1-110) is referred to as the Emergency Economic Stabilization Act of 2008; Division B (pp. 110-255) is referred to as the Energy Improvement and Extension Act of 2008; and Division C (pp. 255-441) is referred to as the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. See also documents on the Senate Banking Committee and the House Rules Committee websites.

Its 451 pages now contain gems like:Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.

Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation.

1:25 p.m. Bill passes: The bill passed 263 to 171. The vast majority of Democrats voted in favor (172 yeas to 63 nays), while a slighter majority of Republicans voted against (91 yeas to 108 nays).1:08 p.m. Voting begins: Representatives are entering their final votes on the bill. They have 15 minutes to do so.

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Moggy Musing

Hi! My name is Boy. I'm a male bi-coloured tabby cat. Ever since I discovered that Malcolm Turnbull's dogs were allowed to blog, I have been pestering Clarencegirlto allow me a small space on North Coast Voices.

A your vote or no bridge musing:This is the position Nationals MP for ClarenceChris Gulaptistakes on the second Grafton Bridge in the Clarence Valley -The NSW Coalition has committed to building a second bridge in Grafton and we have reserved $177 million from Restart NSW to its construction. The $177 million is currently listed as unallocated on the Statement of Uncommitted Funds released by NSW Treasury. The Coalition would have to be re-elected to ensure the $177 million was allocated to the construction of the Grafton Bridge.

I hope Clarence Valley voters are noticing the admission that there is no $177 million allocated in the 2014-15 NSW Budget or forward estimates. Apart from the $429,275 covering the quality assurance contract won by Geolink this year there appears to be no guaranteed money and any further funding to actually progress and build the new bridge may not be in the 2015-16 budget – or in the budget the year after that or the year after that or the year after that……

An arrogance personified musing:After the first Clarence Valley Council meeting he attended an angry little local pollie, elected by default in 2015 and with a little over one year's past experience in local government 27 years ago, is reportedly "pleased with the overall performance" of his fellow councillors – all of whom have represented their communities for far longer than he. Happy to plead 'new chum' status to avoid sitting on more than one committee, but willing to try and bully the meeting when it went on too long for his liking. Oh, dear. This does not bode well for the future.

A candidate who? musing:Rumours are circulating that former Nats MP for Clarence Steve Cansdell was thinking about standing at the March 2015 NSW election – until the Nationals allegedly threatened him with looking into his false statutory declaration again. Surely not!

A questioning musing: What was one of Adani Mining Pty Ltd's company cars doing parked at the corner of Victoria & Prince streets in Grafton on or about 29 January 2015? Apparently once this car was sighted around 20 metres from Nationals MP for ClarenceChris Gulaptis' electoral office speculation began about what a representative of this multinational Indian mining company was doing in the Clarence Valley.

A telling it like it is musing:In theSunshine Coast Dailyon 31 January 2015 - “News Corp's biased coverage during the campaign was appalling. Its agenda was clear with the front page headlines claiming bikies were backing Labor, followed up by a front page endorsement of Mr Newman last Sunday. The growth of social media, and alternative, independent news sources meant the paper's view mattered little in the end.”

Athought to ponder musing:

In case of bushfire or flood - do you have an emergency evacuation plan for the family pet?

An adoptionmusing:Every week on the NSW North Coast a number of cats and dogs find themselves without a home. If you want to do your bit and give one bundle of joy a new family, contact Happy Paws on 0419 404 766 or your local council pound.